Slide 1: Siltronic – a leading producer of silicon wafers
Siltronic – a leading producer of silicon wafers Q1/2016 Results © Siltronic AG 2016
Slide 2: Highlights Q1/2016: Financials
Highlights Q1/2016: Financials Sales of 220.6 EUR (Q4/2015:215.3 mn EUR) Sales Growth of 2.5% 23.6 mn EUR (Q4/2015: 23.2 mn EUR), EBITDA Without negative FX effects* EBITDA would have been 33.3 mn EUR EBITDA margin of 10.7% (Q4/2015: 10.8%) Margin Without negative FX effects* EBITDA margin would hav
Slide 3: Market Update
Market Update GDP GDP growth in China declined to 6.7% in Q1/2016. Eurozone and U.S. continued growth at ~2% in Q4/2015. Silicon market Wafer market in Q1/2016 was ~5.5 bn cm²/month, 1.3% up q-o-q and 3.8% down y-o-y. 300 mm market was ~4.9 mn wafers/month in Q1/2016, 1.1% down from Q4/2015
Slide 4: Sales development driven by sequentially higher wafer volumes
Sales development driven by sequentially higher wafer volumes Sales, in EUR mn Comments +2.5% Volumes Q1/2016 246.7 238.7 increased q-o-q 230.6 215.3 220.6 Prices down for products with lower utilisation rates Volumes Q1/2016 decreased y-o-y ASP y-o-y down Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1
Slide 5: EBITDA stable q-o-q
EBITDA stable q-o-q EBITDA, in EUR mn Comments 16.8% Positive +1.7% • volume growth q-o-q 12.7% 12.7% • ASP flat q-o-q • cost reduction on track 10.8% 10.7% Negative • prices down for 40.1 products with lower 31.4 29.3 utilisation rates 23.2 23.6 • higher hedging losses y-o-y* Q1 2015 Q2 2015 Q3
Slide 6: EBITDA excluding FX effects 15% in Q1/2016
EBITDA excluding FX effects 15% in Q1/2016 EBITDA excl. FX effects*, in EUR mn Comments 19.9% 19.4% 17.7% FX effects due to hedging 15.7% • negative EUR 2.1 mn in 15.1% Q1/2015 • negative EUR 10.5 mn in Q4/2015 • negative EUR 9.7 mn in 49.0 Q1/2016 42.2 44.8 33.7 33.3 Q1 2015 Q2 2015 Q3 2015 Q4 20
Slide 7: Equity ratio of 41% and strong net cash position of EUR 149 mn
Equity ratio of 41% and strong net cash position of EUR 149 mn Balance sheet, in EUR mn Equity and Assets Mar 31, 2016 Comments Mar 31, 2016 Comments liabilities Non-current 573.6 Equity 418.2 PP&E 536.7 Siltronic 422.8 29 intangible (related Other Other fixed 36.9 -4.6 Samsung’s 22% in SSW to SSW)
Slide 8: Payments for CapEx above average in Q1/2016
Payments for CapEx above average in Q1/2016 Cash flow, in EUR mn Comments CapEx for investments in state-of-the-art crystal Q1/2016 Q4/2015 Q1/2015 pullers and further automation of production Cash flow from operating activities 26.8 8.0 47.7 sites Payments for CapEx (33.5) (18.5) (8.1) Free cash
Slide 9: Pension provision increased due to lower interest rates
Pension provision increased due to lower interest rates Pension provision, in EUR mn 429 Comments 379 changes in interest rates 328 299 influence evaluation of 292 294 pension provision change in interest rates 185 directly reflected in equity (OCI) 2013 2014 Q1 2015 Q2 Q3 Q4 Q1 2016 interest ra
Slide 10: Successful cost reduction program continues
Successful cost reduction program continues Cost reduction, in EUR mn1 Additional Savings Levers: Additional savings from SSW Cost reduction roadmap defined Operational excellence for 2016 and beyond ~80 Site closure up to 500 employees to be transferred to WACKER between 2014 and 2019 (~200 alr
Slide 11: Siltronic Outlook 2016 as per April
Siltronic Outlook 2016 as per April EBITDA margin slight improvement ROCE in the mid single-digit percentage range Free Cash Flow clearly positive, but below 2015 Sales year-on-year decrease in the low to medium single-digit percentage range R&D unchanged at approx. 7% of sales Cost Position potenti
Slide 12: Contact and Additional Information
Contact and Additional Information Issuer and Contact Additional Information Siltronic AG ISIN: DE000WAF3001 Hanns-Seidel-Platz 4 WKN: WAF300 D-81737 München Deutsche Börse: WAF Listing: Frankfurt Stock Exchange Investor Relations: Prime Standard Petra Mueller Tel. +49 89 8564-3133 Financial Calenda
Slide 13: Disclaimer
Disclaimer The information contained in this presentation is for background purposes only and is subject to amendment, revision and updating. Certain statements contained in this presentation may be statements of future expectations and other forward-looking statements that are based on management's